Loan Modification CA What To Look For

If you are looking for a loan modification company in ca, this article will help you make an informed decision.

The first thing to look for when searching for a loan modification ca company is their licensing. They either have to be an attorney or licensed by the California Department of Real Estate. This is crucial, if you are talking to a company that is not licensed there must be some reason for this. Never trust anyone who is not, no matter how great their program sounds. If it sounds too good to be true, it probably is.

The second thing you should look for is their track record. How many loan modifications have they done? What is there success rate? Can they send you examples of completed loan mods from your specific lender? These are all great questions to ask when speaking to any company.

The third thing you should look for is a great program. One company in CA has a program where they will actually try to see if you qualify for any government backed or FHA refinance programs before they attempt a loan modification. Some of these programs will work if you have bad credit or your mortgage is upside down and if you do qualify, you will not need a loan modification. If you do not qualify, you should try the loan mod service.

If loan modification is your only option, you need to see if you qualify before you pay any company. They can accomplish this by having you speak with an actual underwiter that knows current lender qualifications, using an attorney to check your loan docs for errors and actually calling your lender and speaking with a case manager. They should also check your debt to income ration and make sure it falls between the loan modification window of opportunity. This is crucial to getting your file approved.

After these steps have been completed, you should know if you qualify for a loan modification and what outcome you can likely expect.

For more information on a great loan modification ca company, please visit the following links.

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